Russia: Severstal narrows guidance for 10-15-billion ruble bonds
Russian steelmaker Severstal has narrowed the coupon guidance for its 10-15-billion ruble bonds to 8.65-8.75% annually, which corresponded to an 8.84-8.94% annual yield to a 5-year buyback offer, a banking source reported. The initial guidance was set at 8.65-8.85% annually. The issue carries semiannual bonds. Technical placement is preliminarily scheduled for April 9. VTB Capital,…